Philadelphia Gas Works Retirement Reserve is seeking an investment consultant, said Christopher DiFusco, director of investments for the $520 million pension fund.
The RFP was issued because the contract of incumbent Arthur J. Gallagher & Co. is expiring. Mr. DiFusco said the incumbent is invited to rebid.
The pension fund’s asset allocation is 68% foreign and domestic equities and 32% domestic fixed income and cash. There are six domestic equity managers, three mutual funds for international equities and four fixed-income managers.
While the pension fund does not currently invest in alternatives, firms should state in their proposals their expertise and experience in those areas as well, the RFP said.
The RFP can be found on eContract Philly, the city’s procurement website. Proposals are due at 5 p.m. EDT on June 19. A decision is expected before the end of 2015.